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Form No. 10
Release of Executors by
Residuary Legatee
DEED OF RELEASE is made at ....... this ....... day of ........ between
Mr. A residing at ... hereinafter referred to as the Releasor of the One
Part and Mr. B. and Mr. C. being the proving executors of the Will of the
late Mr. ...... hereinafter referred to as the Releasee of the Other Part;
WHEREAS
1. The said Mr. ... died on or about the ... day of ... leaving his last
Will and testament dated ...
2. The said Will has been proved and probate thereof has been ob-
tained by the Releasees being the Executors of the said Will named from
the High Court, Dist. Court of ... on the day of ...
3. By the said Will the said testator had made some specific bequests
in favour of some legatees and provided that after payment of all debts
and liabilities including the costs of obtaining probate and expenses for
administration of the estate, all the residuary estate should be given to
the Releasor absolutely.
4. The Releasees as such Executors have paid all the debts, liabilities
and expenses and also paid the specific legacies to the persons entitled
thereto.
5. The residuary estate now consists of an immoveable property situ-
ate at ... and described in the First Schedule hereunder written and some
securities, shares and cash mentioned in the Second Schedule hereunder
written.
6. The Releasor has examined the accounts of the administration of
the estate of the said deceased by the Releasees and is satisfied with the
correctness thereof.
7. By a separate deed of transfer executed by and between the Releas-
ees and the Releasors, the Releasees have transferred the said immoveable
property described in the First Schedule hereunder written to the Releasor.
8. So far as the moveable property described in the Second Schedule
hereunder written is concerned, it has been handed over by the Releasees
to the Releasor by making endorsements, executing transfer forms and
handing over cash and other articles and things before the execution of
these presents.
9. The Releasees have now requested the Releasor to release them
from all obligations as Executors to hand over the residuary estate to the
Releasor which the Releasor has agreed to do.
NOW THIS DEED WITNESSETH that in the premises the Releasor
doth hereby release the Releasees of all their duties and obligations as
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Executors of the said Will and declares that the property described in the
Schedules hereunder written is the only residuary property of the Estate
of the said deceased and that he has now no claim whatsoever in respect
of the said Estate.
And the Releasor covenants with the Releasees that he will indemnify
and keep indemnified the Releasees against any claim that may be made
and proved against them to the said estate or any part thereof or any
debt, liability or legacy and against all costs, charges and expenses that
the Releasees may suffer or incur on account of such claim.
IN WITNESS WHEREOF the Releasor has put his hand the day and
year first hereinabove written.
THE FIRST SCHEDULE ABOVE REFERRED TO
x x x x
THE SECOND SCHEDULE ABOVE REFERRED TO
x x x x
Signed and delivered by the )
withinnamed Releasor ... Mr. A. )
in the presence of ... ... )
Note : This Deed will be required to be Stamped and Registered as stated in Pre-
liminary Notes.
Stamp Duty, eStamping & Registration : See the Indian Stamp Act, 1899 (2 of
1899), Rates of Stamp Duty in various States, eStamping and Compulsorily & Option-
ally Registrable Documents under the Registration Act, 1908 (16 of 1908), with offcial
websites, in respective later Part/Chapters on Stamp Duty, eStamping & Registration of
Deeds & Documents.
RELEASE OF EXECUTORS BY RESIDUARY LEGATEE